Insider Selling: Ring Energy, Inc. (NYSEAMERICAN:REI) Major Shareholder Sells 652,380 Shares of Stock

Ring Energy, Inc. (NYSEAMERICAN:REI - Get Free Report) major shareholder Warburg Pincus (E&P) Xii Llc sold 652,380 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $0.81, for a total value of $528,427.80. Following the sale, the insider now directly owns 23,223,335 shares of the company's stock, valued at approximately $18,810,901.35. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Warburg Pincus (E&P) Xii Llc also recently made the following trade(s):

• On Thursday, June 12th, Warburg Pincus (E&P) Xii Llc sold 228,008 shares of Ring Energy stock. The stock was sold at an average price of $0.82, for a total value of $186,966.56.
• On Tuesday, June 10th, Warburg Pincus (E&P) Xii Llc sold 505,340 shares of Ring Energy stock. The shares were sold at an average price of $0.81, for a total value of $409,325.40.
• On Monday, June 9th, Warburg Pincus (E&P) Xii Llc sold 257,468 shares of Ring Energy stock. The shares were sold at an average price of $0.78, for a total value of $200,825.04.
• On Friday, June 6th, Warburg Pincus (E&P) Xii Llc sold 215,476 shares of Ring Energy stock. The shares were sold at an average price of $0.77, for a total value of $165,916.52.
• On Thursday, June 5th, Warburg Pincus (E&P) Xii Llc sold 26,606 shares of Ring Energy stock. The stock was sold at an average price of $0.75, for a total value of $19,954.50.
• On Wednesday, June 4th, Warburg Pincus (E&P) Xii Llc sold 321,289 shares of Ring Energy stock. The shares were sold at an average price of $0.76, for a total value of $244,179.64.
• On Tuesday, June 3rd, Warburg Pincus (E&P) Xii Llc sold 521,232 shares of Ring Energy stock. The shares were sold at an average price of $0.79, for a total value of $411,773.28.
• On Monday, June 2nd, Warburg Pincus (E&P) Xii Llc sold 495,278 shares of Ring Energy stock. The shares were sold at an average price of $0.76, for a total value of $376,411.28.
• On Wednesday, May 28th, Warburg Pincus (E&P) Xii Llc sold 31,171 shares of Ring Energy stock. The stock was sold at an average price of $0.80, for a total value of $24,936.80.
• On Tuesday, May 27th, Warburg Pincus (E&P) Xii Llc sold 55,700 shares of Ring Energy stock. The stock was sold at an average price of $0.80, for a total value of $44,560.00.

Ring Energy Stock Performance

Shares of NYSEAMERICAN:REI traded up $0.02 during trading on Friday, hitting $0.87. 22,458,097 shares of the company traded hands, compared to its average volume of 2,055,887. The stock has a market capitalization of $171.80 million, a price-to-earnings ratio of 1.52 and a beta of 1.55. The business's fifty day moving average is $0.84 and its 200-day moving average is $1.23. Ring Energy, Inc. has a one year low of $0.72 and a one year high of $2.06. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46.

Institutional Trading of Ring Energy

Several large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in Ring Energy by 1.0% in the fourth quarter. Ameriprise Financial Inc. now owns 5,332,208 shares of the company's stock worth $7,252,000 after purchasing an additional 51,577 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Ring Energy by 28.6% in the first quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company's stock worth $3,853,000 after purchasing an additional 744,284 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ring Energy by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,060,543 shares of the company's stock worth $4,163,000 after purchasing an additional 89,614 shares in the last quarter. Millennium Management LLC boosted its holdings in Ring Energy by 358.0% during the fourth quarter. Millennium Management LLC now owns 1,082,632 shares of the company's stock valued at $1,472,000 after acquiring an additional 846,241 shares during the period. Finally, Marshall Wace LLP bought a new stake in Ring Energy during the fourth quarter valued at about $1,378,000. 77.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on REI shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Ring Energy in a research report on Friday, March 7th. Industrial Alliance Securities set a $2.50 price objective on Ring Energy in a report on Friday, March 7th.

About Ring Energy

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.